Construction on three industrial projects begins after China announces Hainan FTZ plan

Updated 2018-05-10 09:40:03 Xinhua

Construction on three mega industrial projects began Wednesday in south China's Hainan Province after the country announced the decision to build the island into a free trade zone last month.

The projects, which are based in Hainan Resort Software Community, involve an ecological cooperation project between Tencent and the software park, a platform for development and trading of online games, and an intellectual sports industrial base.

Workers are expected to have completed 1 million square meters for the three projects at year end, with the investment of 5 billion yuan (about 794 million U.S. dollars), said Yang Chunzhi, general manager of the software park.

All three projects are very promising and are likely to achieve a 10 billion yuan industrial contribution by 2020, according to Yang.

China in April announced its plan to build the whole island of Hainan into a pilot free trade zone and support Hainan to gradually and steadily push ahead with the building of a free trade port.

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